Offering the Most Advanced Analytics for Commercial Real Estate in a Mobile App, CoStarGo 2.0's Fully Integrated Tools for Analyzing Properties and Markets Expands App's Appeal to Property Owners, Lenders and Institutional Investors
CoStar has once again raised the bar for real estate apps, adding a powerful set of analytics to CoStarGo® 2.0
, the newest and most advanced version of its revolutionary iPad® app for commercial real estate
fully integrated set of property and market analysis tools now makes it possible for real estate professionals to analyze major market indicators, such as vacancy rates, rental rates, absorption, leasing activity, sales prices, cap rates, probability of leasing and numerous other key metrics that CRE professionals routinely track and analyze.
What's more, with CoStarGo 2.0
, this advanced analysis can now be conducted while the user is outside the office, and the information made available just when it's needed, such as while on a market tour, visiting a site with clients, or meeting with lenders or investors.
By adding the most powerful analytics for commercial real estate to CoStarGo 2.0, CoStar Group Founder and CEO Andrew C. Florance expects the new version will have a similar impact as the original, while broadening CoStar's appeal across more industry sectors.
"Commercial real estate brokers were amazed by the first release of CoStarGo in 2011, and they have been enjoying its tremendous mobility and productivity benefits. We believe owners, lenders and institutional investors will be equally amazed by the instant insight they will gain from the powerful analytic tools in this new release," Florance said.
As examples, Florance noted how building owners can use the iPad app to compare rental rates in their buildings with competitive spaces and determine the probability that a block of available space will be leased over time. Investors can benchmark sales and leasing activity in their portfolios against the broader market, and monitor key market trends to make buy/sell/hold decisions. Lenders can analyze property values based on recent sale comps and check current pricing where they are underwriting loans.
CoStarGo 2.0 builds on its predeccesor's ability to present detailed information on individual and groups of properties around the user's current location. By providing the added capability of sizing-up and analyzing those properties on the fly, CoStarGo 2.0 gives an instant snapshot of current trends for the specific set of properties onscreen. And with the iPad's unique screen-based controls, users can use the map-based interface to zoom in or out, quickly expanding or narrowing the scope of their analysis.
Some of the more prominent new features in CoStarGo 2.0 include:
- The most advanced commercial real estate analytics, now available in a mobile app and available to analyze market supply/demand dynamics, property forecasts, rental rate and property valuation trends, under construction levels, and more CRE conditions. CoStarGo 2.0 users can tap into CoStar’s depth of information to analyze the specific location, property type or asset they want, when they want it.
- Using the convenient zoom in and out feature of the iPad®, users can expand or focus analysis on the fly to support both macro and micro views. Zoom in to analyze a specific location or set of properties. Zoom out to get the ‘big picture’ and analyze an entire market or submarket. CoStarGo 2.0’s fully integrated analytics automatically adjust to the properties onscreen, providing tremendous flexibility for customizing analysis to adderss specific information needs.
- In another first, CoStarGo 2.0 becomes the first CoStar product to include a new feature that analyzes leasing activity and recent lease transactions to project how long available space will remain on the market.
- CoStarGo 2.0’s uses advanced data modeling to display results in bright, easy-to-read charts and graphs that provide a clear understanding of a specific building’s performance or the current trends shaping the market.
CoStar said the new CoStarGo 2.0 is fully compatible with iOS 7 and is available for download at the the Apple App Store
at no charge to subscribers of CoStar's professional suite of online products -- CoStar Property Professional®, CoStar Tenant® and CoStar COMPS®.